|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
$45.5m
|
$55.1m
|
$36.3m
|
($23.1m)
|
$240.0m
|
|
Net Income
|
|
—
|
$55.1m
|
$36.3m
|
($23.1m)
|
$240.0m
|
|
Net Income From Continuing Operations
|
|
—
|
$55.1m
|
$36.3m
|
($23.1m)
|
$240.0m
|
|
Amortization
|
|
$399k
|
$374k
|
$369k
|
$346k
|
$323k
|
|
Amortization Cash Flow
|
|
—
|
$374k
|
$369k
|
$346k
|
$323k
|
|
Amortization Of Intangibles
|
|
—
|
$374k
|
$369k
|
$346k
|
$323k
|
|
Depreciation Amortization Depletion
|
|
—
|
$50.5m
|
$65.5m
|
$75.9m
|
$79.6m
|
|
Depreciation And Amortization
|
|
—
|
$374k
|
$369k
|
$346k
|
$323k
|
|
Deferred Income Tax
|
|
—
|
$4.8m
|
$107k
|
$10.3m
|
$29.4m
|
|
Deferred Tax
|
|
—
|
$4.8m
|
$107k
|
$10.3m
|
$29.4m
|
|
Impairment (reversal) charges and expected credit losses
|
|
—
|
—
|
$36.8m
|
$148.0m
|
($4.3m)
|
|
Adjustments For Share-Based Payments
|
|
$1.3m
|
$3.3m
|
$3.4m
|
$422k
|
$292k
|
|
Asset Impairment Charge
|
|
$0
|
$3.6m
|
$36.8m
|
$148.0m
|
—
|
|
Income tax expense
|
|
$6.4m
|
$4.8m
|
$107k
|
$10.3m
|
$29.4m
|
|
Adjustments For Income Tax Expense
|
|
$6.4m
|
$4.8m
|
$107k
|
$10.3m
|
$29.4m
|
|
Proceeds From Sales Of Investments Other Than Investments Accounted For Using Equity Method
|
|
$3.4m
|
$6.3m
|
—
|
$3.1m
|
$2.0m
|
|
Depletion
|
|
$53.7m
|
$50.1m
|
$65.1m
|
$75.6m
|
$79.3m
|
|
Loss on disposal of mineral interests
|
|
—
|
($2.1m)
|
$1.0m
|
$0
|
($6.7m)
|
|
Stock-based compensation expense
|
|
$1.3m
|
$3.3m
|
$3.4m
|
$422k
|
$292k
|
|
Finance and other costs, net
|
|
$6.4m
|
$3.8m
|
$4.3m
|
$5.0m
|
$3.9m
|
|
Operating cash flow before working capital and taxes
|
|
$124.5m
|
$123.8m
|
$162.0m
|
$220.7m
|
$315.0m
|
|
Change in working capital
|
|
$775k
|
($400k)
|
($1.7m)
|
($226k)
|
$9.4m
|
|
Operating cash flow
|
|
$120.0m
|
$118.4m
|
$154.1m
|
$213.5m
|
$312.8m
|
|
Acquisition of mineral interests
|
|
($51.3m)
|
($52.3m)
|
($190.9m)
|
($57.5m)
|
($218.6m)
|
|
Proceeds on disposal of mineral interests
|
|
—
|
$4.5m
|
$1.7m
|
$366k
|
$2.0m
|
|
Recovery (acquisition) of loan receivables
|
|
—
|
—
|
—
|
($14.6m)
|
$4.3m
|
|
Proceeds from exercise of stock options and warrants
|
|
—
|
—
|
$16.8m
|
$1.8m
|
$146k
|
|
Normal course issuer bid ("NCIB") purchase of common shares
|
|
($1.7m)
|
($4.1m)
|
($20.7m)
|
($8.9m)
|
($9.0m)
|
|
Repayments and interest on lease obligation
|
|
($339k)
|
($359k)
|
($436k)
|
($431k)
|
($457k)
|
|
Payment of interest
|
|
($5.1m)
|
($2.0m)
|
($6.3m)
|
($4.7m)
|
($3.1m)
|
|
General And Administrative Expense
|
|
$12.2m
|
$15.5m
|
$20.1m
|
$21.8m
|
$30.5m
|
|
Increase Decrease In Working Capital
|
|
($775k)
|
$400k
|
$1.7m
|
$226k
|
($9.4m)
|
|
Payments Of Lease Liabilities Classified As Financing Activities
|
|
$258k
|
$359k
|
$436k
|
$431k
|
$457k
|
|
Payments To Acquire Or Redeem Entitys Shares
|
|
$1.7m
|
$4.1m
|
$20.7m
|
$8.9m
|
$9.0m
|
|
Proceeds From Issuing Shares
|
|
$245.1m
|
—
|
—
|
—
|
—
|
|
Beginning Cash Position
|
|
—
|
$40.7m
|
$71.1m
|
$17.4m
|
$36.2m
|
|
Cash Flow From Continuing Financing Activities
|
|
—
|
($38.8m)
|
$5.1m
|
($112.6m)
|
($59.9m)
|
|
Cash Flow From Continuing Investing Activities
|
|
—
|
($48.9m)
|
($213.0m)
|
($82.0m)
|
($218.0m)
|
|
Change In Inventory
|
|
—
|
$293k
|
($363k)
|
($1.1m)
|
($569k)
|
|
Change In Other Current Assets
|
|
$1.2m
|
$0
|
—
|
—
|
—
|
|
Change In Payable
|
|
—
|
$3.0m
|
$2.8m
|
$3.6m
|
$15.2m
|
|
Change In Payables And Accrued Expense
|
|
$1.4m
|
$3.0m
|
$2.8m
|
$3.6m
|
—
|
|
Change In Receivables
|
|
—
|
($3.7m)
|
($4.2m)
|
($2.7m)
|
($5.2m)
|
|
Changes In Account Receivables
|
|
—
|
($4.8m)
|
($4.2m)
|
($2.7m)
|
($5.2m)
|
|
Changes In Cash
|
|
—
|
$30.7m
|
($53.7m)
|
$18.9m
|
$35.0m
|
|
End Cash Position
|
|
—
|
$71.1m
|
$17.4m
|
$36.2m
|
$71.3m
|
|
Financing Cash Flow
|
|
—
|
($38.8m)
|
$5.1m
|
($112.6m)
|
($59.9m)
|
|
Free Cash Flow
|
|
—
|
$66.1m
|
($36.8m)
|
$156.0m
|
$94.2m
|
|
Gain Loss On Sale Of PPE
|
|
—
|
($2.1m)
|
$1.0m
|
$0
|
($6.7m)
|
|
Investing Cash Flow
|
|
—
|
($48.9m)
|
($213.0m)
|
($82.0m)
|
($218.0m)
|
|
Issuance Of Capital Stock
|
|
$245.1m
|
$0
|
—
|
—
|
—
|
|
Net PPE Purchase And Sale
|
|
—
|
($47.8m)
|
($189.2m)
|
($57.1m)
|
($216.6m)
|
|
Operating Gains Losses
|
|
—
|
($2.1m)
|
$1.0m
|
—
|
($6.7m)
|
|
Other Non Cash Items
|
|
—
|
$4.6m
|
$20.3m
|
$21.9m
|
$23.0m
|
|
Proceeds From Stock Option Exercised
|
|
—
|
$0
|
$16.8m
|
$1.8m
|
$146k
|
|
Provisionand Write Offof Assets
|
|
—
|
$0
|
$9.7m
|
—
|
—
|
|
Purchase Of PPE
|
|
—
|
($52.3m)
|
($190.9m)
|
($57.5m)
|
($218.6m)
|
|
Repurchase Of Capital Stock
|
|
—
|
($4.1m)
|
($20.7m)
|
($8.9m)
|
($9.0m)
|
|
Sale Of PPE
|
|
—
|
$4.5m
|
$1.7m
|
$366k
|
$2.0m
|
|
Stock Based Compensation
|
|
—
|
$3.3m
|
$3.4m
|
$422k
|
$292k
|
|
Unrealized Gain Loss On Investment Securities
|
|
—
|
$4.1m
|
($1.5m)
|
($12.8m)
|
($46.2m)
|
|
Profit or Loss
|
|
$45.5m
|
$55.1m
|
$36.3m
|
($23.1m)
|
$240.0m
|
|
Capital Expenditure
|
|
—
|
($52.3m)
|
($190.9m)
|
($57.5m)
|
($218.6m)
|
|
Net Investment Purchase And Sale
|
|
—
|
($1.1m)
|
($2.7m)
|
($10.2m)
|
($5.7m)
|
|
Purchase Of Investment
|
|
—
|
($7.4m)
|
($2.7m)
|
($13.3m)
|
($7.7m)
|
|
Proceeds on sale of investments
|
|
$3.4m
|
$6.3m
|
$0
|
$3.1m
|
$2.0m
|
|
Sale Of Investment
|
|
—
|
$6.3m
|
$0
|
$3.1m
|
$2.0m
|
|
Net Other Investing Changes
|
|
—
|
—
|
($21.0m)
|
($14.6m)
|
$4.3m
|
|
Net cash used in investing activities
|
|
($48.1m)
|
($48.9m)
|
($213.0m)
|
($82.0m)
|
($218.0m)
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
Proceeds from issuance of debt
|
|
$44.0m
|
—
|
$130.0m
|
$63.0m
|
$113.0m
|
|
Debt issue costs
|
|
—
|
($1.8m)
|
—
|
$0
|
($1.6m)
|
|
Issuance Of Debt
|
|
—
|
$0
|
$130.0m
|
$63.0m
|
$113.0m
|
|
Long Term Debt Issuance
|
|
—
|
$0
|
$130.0m
|
$63.0m
|
$113.0m
|
|
Net Issuance Payments Of Debt
|
|
—
|
($359k)
|
$56.6m
|
($57.4m)
|
($457k)
|
|
Net Long Term Debt Issuance
|
|
—
|
($359k)
|
$56.6m
|
($57.4m)
|
($457k)
|
|
Repayments of debt
|
|
($319.0m)
|
—
|
($73.0m)
|
($120.0m)
|
($113.0m)
|
|
Long Term Debt Payments
|
|
—
|
($359k)
|
($73.4m)
|
($120.4m)
|
($113.5m)
|
|
Repayment Of Debt
|
|
—
|
($359k)
|
($73.4m)
|
($120.4m)
|
($113.5m)
|
|
Common Stock Issuance
|
|
$245.1m
|
$0
|
—
|
—
|
—
|
|
Net Common Stock Issuance
|
|
—
|
($4.1m)
|
($20.7m)
|
($8.9m)
|
($9.0m)
|
|
Common Stock Payments
|
|
—
|
($4.1m)
|
($20.7m)
|
($8.9m)
|
($9.0m)
|
|
Dividends paid
|
|
($14.8m)
|
($30.4m)
|
($41.3m)
|
($43.3m)
|
($45.8m)
|
|
Dividends Paid Classified As Financing Activities
|
|
$14.8m
|
$30.4m
|
$41.3m
|
$43.3m
|
$45.8m
|
|
Dividends Paid Ordinary Shares Per Share
|
|
—
|
—
|
$0.05
|
$0.05
|
—
|
|
Cash Dividends Paid
|
|
—
|
($30.4m)
|
($41.3m)
|
($43.3m)
|
($45.8m)
|
|
Net Other Financing Charges
|
|
($18.6m)
|
($1.8m)
|
—
|
—
|
($1.6m)
|
|
Net cash used in financing activities
|
|
($51.8m)
|
($38.8m)
|
$5.1m
|
($112.6m)
|
($59.9m)
|
|
Effect of exchange rate changes on cash and cash equivalents
|
|
—
|
($284k)
|
($1k)
|
($77k)
|
$36k
|
|
Effect Of Exchange Rate Changes
|
|
—
|
($284k)
|
($1k)
|
($77k)
|
$36k
|
|
Increase (decrease) in cash and cash equivalents during the period
|
|
$20.0m
|
$30.4m
|
($53.7m)
|
$18.9m
|
$35.0m
|
|
Cash and cash equivalents at beginning of the period
|
|
$40.7m
|
$71.1m
|
$17.4m
|
$36.2m
|
$71.3m
|
|
Change In Cash Supplemental As Reported
|
|
—
|
$30.4m
|
($53.7m)
|
$18.9m
|
$35.0m
|
|
Non-cash cost of sales from prepaid gold interests
|
|
—
|
$836k
|
$16.0m
|
$16.9m
|
$19.1m
|
|
Increase in fair value of investments and prepaid gold interests
|
|
$10.8m
|
$4.1m
|
($1.5m)
|
($12.8m)
|
($46.2m)
|
|
Acquisition of prepaid gold interests and investments
|
|
($322k)
|
($2.6m)
|
($2.7m)
|
($13.3m)
|
($7.7m)
|
|
Income taxes paid, net
|
|
($5.3m)
|
($5.0m)
|
($6.1m)
|
($7.0m)
|
($11.6m)
|